My Husband and I's Goal as an SRES®, is to Help
We know that the majority of mature adults would prefer to continue living in their own home or aging place. Many times, the circumstances work against those preferences:
- Home maintenance becomes a burden.
- A major life event forces considering a move: illness, dead, accident, etc.
- An aging parent wants to live closer to caretakers.
- Financial concerns make it difficult to keep the home.
- Support services are needed that are not available at home.
Selling a senior‘s home is different.
Many of you have previously bought and sold homes, however, selling a house with all that it represents: the place where children were raised; the safety and security of a family unit; the physical space where your older and dearest memories reside. The place where you likely have the best years of their lives, your friends and community ties.
As SRES, we are uniquely qualified to assist seniors in housing sales & purchases
- Has knowledge, experience, and consideration in dealing with elder issues.
- Works first and foremost with the best interests of the client in mind.
- Can suggest housing alternatives, including ones that may allow an aging parent to remain in the home instead of selling it.
- Will take the time needed to make a client feel comfortable with the complex selling process.
- Understands the emotional demands a sale can make on a senior and tries to minimize them.
- Can interact easily with all generations, including seniors, adult children, and caretakers.
Before to start the process it is very important to consider
- Are all relevant family members aware of the upcoming sale and the reasons for it?
- Have the tax consequences of a sale been considered?
- Will an adult child be acting on the behalf of a parent in the sale?
- If family members are assisting a parent in the sales process, has one member been chosen to be the contact in communicating with professionals?
Main phases in the Process
It is essential to know the reasons you are making a decision to move and what living arrangement is most appropriate for you.
It can be challenging not only because it entails an emotional dimension, but also because of the complex issues you need to weigh, such as: cost, location, services, amenities, activities, and current and future care needs. SRES® designees can consult with you to make the best senior's housing choice for you or your loved one.
They can also work with you to anticipate care needs as you age to ensure that today's housing choice will serve you well tomorrow.
Phases in the Process
1. Housing Options
- Retirement Residences
- Assisted living
- Nursing Homes
- Continuing care retirement communities
2. Home Adaptations
When you prefer to age in place, but health and aging issues prevent full access to the house you can choose:
- Community Support Services
- Home Health Care
- Home renovations
3. Financial Considerations
When you cannot afford to continue in your home:
- Reverse mortgage and/or Line of credit
- Government and private programs
4. Financial consequences of selling your home
- How will taxation affect the sales proceeds?
- What other factors can affect net proceeds?
- How will sales proceeds affect other sources of income and benefits?
- How will the sale of your home affect your estate?
- What is the best way to deal with these issues?
5. Legal considerations
- Estate and trust planning
- Power of attorney and healthcare
- Review all documents and contracts related to the sale
- Identifying and assessing qualification for older assistance programs
- Preservation/transfer of assets to avoid spousal impoverishment when spouse enters a nursing home.
- Social security and disabilities claims and appeals
- Elderly abuse and fraud recovery cases
6. Selling your Current Home
- Pricing considerations
- Staging your home
- Marketing your home
- Showing your home
- Negotiating the sale and closing
- Packing and moving
Contact us
CENTURY 21 First Canadian Corp. Brokerage
INFO & SERVICES
CENTURY 21 First Canadian Corp. Brokerage
420 York Street, London, ON N6B1R1
(519) 673-3390
INFO & SERVICES
Independently Owned and Operated. ®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. © 2020 Century 21 Canada Limited Partnership © 2020 Century 21 Canada Limited Partnership
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association. Not intended to solicit properties currently listed for sale or buyers under contract.
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